Measuring Disinflation Credibility in Emerging Markets: A Bayesian Approach with An Application to Turkey
November 1, 2004
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Summary
This paper presents an empirical measure of disinflation credibility and discusses its evolution in Turkey since the 2001 crisis. The results indicate that credibility has improved markedly over this period, boding well for the future of disinflation in Turkey.
Subject: Asset prices, Consumer price indexes, Disinflation, Inflation, Inflation targeting, Monetary policy, Prices
Keywords: Asset prices, Bayesian Learning, consumer price index, Consumer price indexes, Credibility, Disinflation, disinflation credibility, disinflation history, disinflation process, disinflation program, Inflation, inflation rate, Inflation targeting, Mixing Estimation, program coefficient, Turkey, WP
Pages:
14
Volume:
2004
DOI:
Issue:
208
Series:
Working Paper No. 2004/208
Stock No:
WPIEA2082004
ISBN:
9781451874730
ISSN:
1018-5941
